Business
Siinqee Bank President Neway Megersa Named CEO of Oromia Sovereign Fund
BirrMetrics · 2 hours ago · Read the Full Story on BirrMetrics
AI SUMMARY
Siinqee Bank president Neway Megersa has been appointed CEO of the Oromia Sovereign Fund, with Getachew Deressa stepping in as acting chief executive of the bank.
- Neway Megersa left his position as president of Siinqee Bank to become the chief executive officer of the Oromia Sovereign Fund.
- Getachew Deressa, formerly the bank's chief banking operations officer, took over as acting chief executive of Siinqee Bank.
- During the 2025/26 financial year, Siinqee Bank reported 10.7 billion birr in profit before tax under Neway's leadership.
- The bank's total assets reached 216.2 billion birr, customer deposits hit 178.1 billion birr, and outstanding loans totaled 127.1 billion birr.
- Siinqee Bank originated from the former Oromia Credit and Saving Share Company and operates across Oromia and other regions.
- Siinqee Bank did not specify whether Getachew's appointment will be permanent or provide a timetable for selecting a substantive chief executive.
- The announcement regarding Neway's transition to the regional investment fund did not disclose details about the fund's current asset portfolio or investment priorities.
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